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World Liberty Financial Inc to Launch USD1: A “Institutional-Grade” Stablecoin Backed by U.S. Treasuries
The token aims to offer institutional investors a secure option for cross-border transactions, merging DeFi with traditional assets.
World Liberty Financial Inc. (WLFI), a new DeFi protocol that presents itself as "inspired by Donald Trump," has announced the upcoming launch of USD1, a stablecoin that promises to be fully backed by U.S. Treasury assets.
The token will be pegged 1:1 to the U.S. dollar and backed by short-term Treasury bonds, dollar deposits, and cash equivalents, according to WLFI. The custody of these assets will be managed by BitGo, a specialized provider of digital asset security and custody.
Additionally, WLFI states that regular audits will be conducted by independent accounting firms to ensure transparency in USD1’s backing. The initial launch will take place on the Ethereum and BNB Chain blockchains, with plans to expand to other networks in the future.
According to Zach Witkoff, co-founder of WLFI, the goal is to provide institutional and sovereign investors with a stable alternative for conducting secure cross-border transactions, combining the efficiency of decentralized finance with the guarantees of the traditional financial system.
The announcement aligns with a growing trend among some companies to merge the world of stablecoins with real-world financial instruments, such as U.S. bonds, in a context where demand for decentralized financial solutions continues to rise.
What is Bitcoin and how does it work?
Bitcoin is a digital currency that operates without banks or governments. It’s like internet money, but decentralized.
- Blockchain: A public ledger where all transactions are recorded.
- Mining: Computers verify and confirm transactions by solving mathematical problems.
- Digital wallets: Bitcoins are stored in apps or special devices.
- Limited supply: There will only ever be 21 million Bitcoins, making it scarce and valuable.
It is used to buy things, invest, or save, although its price fluctuates significantly.
How much is 1 Bitcoin in USD?
In the last 24 hours, Bitcoin’s price has increased by 0.04%, meaning a small rise in value. If yesterday it was approximately $82,360, today it has gone up by $33, reaching $82,393.4o
